Statement by President Biden on PCE Inflation Data | Eastern North Carolina Now | Last month incomes were up, and overall prices were down – that’s according to an important measure of inflation, which showed prices actually came down nationwide last month.

Coronavirus Disease 2019 (COVID-19)
Press Release:

August 26, 2022


    Last month incomes were up, and overall prices were down - that's according to an important measure of inflation, which showed prices actually came down nationwide last month. In other words, while the price of some things went up, the price of other things went down by even more. The American people are starting to get some relief from high prices, and the Inflation Reduction Act that I signed last month will also help bring prices down.

    Gas prices decreased every day this summer - the fastest decline in over a decade. And, today's report showed that personal income was up last month as well.

    We have more work to do. We have to help families who have been squeezed by decades living paycheck to paycheck. But today confirms that our economic plan is building the economy from the bottom up and the middle out and we are making progress.

    JOSEPH R. BIDEN JR.

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    Inarguably, the policies of the Democrats in congress and Joe Biden as the Executive is plunging the United States into a recession, if we are not already there; a recession that was completely avoidable. Will abrupt changes in policies occur in time?
      Yes, the Democrats have a bold plan, yet to be revealed, to save us.
      No, there will have to be a complete undoing of the damage done by these Democrats.
      I can't do simple math, so how am I to understand the concept of basic economics.
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